Updates on Belambra and Pierre et Vacance

Belambra Leaseback

From Martine Denoune:

Leader in holiday clubs in France, the Belambra Clubs group has just sold to Atream, an independent real estate and private equity fund management company, the common areas of the “  Domaine de Mousquety  ” in L’Isle-sur-la-Sorgue (84 ).

Let us hope that this sale will allow Belambra to avoid unpaid rent which seriously penalizes its lessors, the private investors of the holiday homes it manages.

See the comments below Martine’s post for owner’s views and defense groups.

Pierre et Vacance Leaseback

From Martine Denoune:

The leading operator of tourist residences in Europe, the Pierre & Vacances group has just confirmed the importance of the impact of the Covid 19 crisis on the start of its 2020-2021 fiscal year.

On January 28, 2021, the group’s Board of Directors decided to request the opening of an amicable conciliation procedure.

On February 2, 2021, the President of the Paris Commercial Court opened a conciliation procedure with regard to Pierre & Vacances SA and some of its subsidiaries, for a period of 4 months, which may be extended.

Again, see the comments below the post for owner reaction and defense groups.

2 thoughts on “Updates on Belambra and Pierre et Vacance

  1. La crise sanitaire a bon dos. La situation de PVCP était déjà délicate au 30/09/2019 avec un modèle économique “asset light” en difficulté depuis 10 ans , aggravé par une activité combinée de promoteur immobilier et des investissements hasardeux. Les propriétaires individuels , seule variable d’ajustement, risquent de payer le prix fort à l’issue d’une conciliation qui est une aubaine pour le fondateur qui détient le controle du groupe .

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